Poker Business

Here you will find stories about the poker industry. From stories about the companies in the gaming business, to industry insider dirt, this is the place for all the news stories relating to the online poker business.

• Buyout Expenses Hamper Harrah's Q1 Profitability

  May 14, 2008,

  As with several other poor earnings statements posted by land-based gambling concerns, casino giant Harrah's posted a loss of $187 million in the first quarter of 2008. This represents a reversal for the WSOP host, which posted a gain...

   

• MGM Grand at Foxwoods Opens Saturday

  May 13, 2008,

  If you go to the "MGM at Foxwoods" website, the first thing that will greet you is a digitized clock counting down the days, hours, and minutes until the opening of the new 30-story MGM Grand at the Mashantucket Connecticut...

   

• Playtech Posts Record First Quarter Profits

  May 12, 2008,

  Online gaming software provider Playtech had an exceptionally strong first quarter, primarily driven by the internal growth of its existing licensees. The release of Playtech's key performance indicators had Playtech posting $39 million...

   

• B&M Casinos Come Up Short in First Quarter

  May 11, 2008,

  The general rule of thumb is that vices do comparatively well during economic downturns, but that appears not to be the case for brick-and-mortar casinos in the first quarter of 2008. From Tropicana's bankruptcy filing...

   

• 888 Holdings Posts Strong First Quarter

  May 10, 2008,

  888 Holdings, parent of Pacific Poker, posted its key performance indicators which showed a 38% increase in the company's net gaming revenue when compared to the same period last year. Commenting on the announcement, 888 CEO...

   

• Bodog, Josh Arieh Part Ways

  May 08, 2008,

  While Bodog's signing of young phenom Justin Bonomo made headlines this week, another change in the works was Bodog's decision to end its long-running endorsement deal with Atlanta native Josh Arieh, the two-time WSOP bracelet winner...

   

• WPTE 2008 First Quarter Loss Widens

  May 07, 2008,

  There were few bright spots for World Poker Tour Enterprises (WPTE) in the first quarter of 2008. For the quarter, the company's losses widened by almost 25% over the losses posted for the same quarter last year. WPT lost $2.83 million...

   

• PartyGaming Grows in First Quarter

  May 04, 2008,

  PartyGaming released their latest key performance indicators, showing continued growth in the first quarter of 2008. Net revenues were up 21% when compared to the same period last year and up 6.2% from the previous quarter...

   

• PokerTek Narrows Losses in First Quarter

  April 25, 2008,

  PokerTek Inc, seller and licensor of automated poker tables, announced its first quarter 2008 earnings earlier this week. Pokertek posted a net loss of $2.13 million for the quarter which was an improvement over its net loss of $2.62...

   

• Harrah's to Become Caesars Entertainment

  April 10, 2008,

  Harrah's Entertainment, rights holder to the WSOP, announced that its Board of Directors had approved changing the company's name to Caesars Entertainment Corporation. CEO Gary Loveman said, "Adoption of the name Caesars Entertainment...

   

• 888 Posts Strong Continuing Operations Growth

  April 09, 2008,

  888 Holdings PLC, owner of Pacific Poker, announced its preliminary 2007 year end results, which in many respects mirrored the performance of the industry as a whole. Like many of its competitors, 888 posted excellent gains from...

   

• PokerTek Obtains $3 Million in Loans

  March 28, 2008,

  PokerTek, Inc., licensor of automated poker tables, announced a needed infusion of cash this week. PokerTek's filing with the Securities and Exchange Commission disclosed taking out a $1 million loan from UBS in exchange for a lien...

   

• Bwin's Core Businesses Pay Off in 2007

  March 27, 2008,

  Although online gaming company bwin Interactive Entertainment AG won't release its final full-year results until next month, the company's preliminary fourth quarter and annual 2007 release validated the company's continued focus...

   

• Elvis to Go Upscale at FX's Planned $3.1 Billion Vegas Casino

  March 26, 2008,

  FX Real Estate and Entertainment has detailed the redevelopment plans for 17.72 acres, known as the Park Central site, adjacent to the MGM Grand on Las Vegas Blvd. In its latest Securities and Exchange Commission filing, FX...

   

• CryptoLogic Posts Better Than Expected Earnings

  March 19, 2008,

  The internet gaming software provider CryptoLogic Limited has posted their financial numbers for the 2007 fourth quarter and full year, exceeding analysts' expectations. Most estimates projected CryptoLogic to post quarterly...

   

• NETeller Posts $185.7M Loss for 2007

  March 17, 2008,

  NETeller Plc has announced a sizeable loss for the 2007 fiscal year, with the largest share of the company's $185.7 million in red ink attributable to the online payment processor's withdrawal from the US market...

   

• WPTE Posts Loss: Turnaround Expected in 2009

  March 07, 2008,

  World Poker Tour Enterprises released its 2007 earnings report, posting a loss of $1.8 million for the most recent quarter and a loss of $9.63 million for the year. Revenues for the quarter and year were both lower than they were...

   

• Playtech and Sportingbet Announce Earnings

  March 06, 2008,

  Playtech Ltd and Sportingbet PLC both reported their earnings earlier this week. Both companies posted improved financial results in their effort to rebuild after the industry's devastating loss of the lucrative US market...

   

• Lightning Poker, PokerTek in New Legal Skirmish

  March 06, 2008,

  Pennsylvania-based Lightning Poker, Inc. announced on Tuesday that it had filed a patent infringement lawsuit against PokerTek, Inc., its primary competitor in the 'live' electronic poker table market. The latest action by Lightning...

   

• PartyGaming Earnings Report: CEO Garber to Step Down

  March 05, 2008,

  Today, PartyGaming released its preliminary 2007 full-year results and the news that CEO Mitch Garber would not be renewing his contract in May 2009. In late January, PartyGaming announced its net revenue numbers, which showed...

   

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